The Kolkata-based private sector lender Bandhan Bank surpassed the market capitalisation of all listed PSU banks except State Bank of India\u00a0upon blockbuster\u00a0stock market debut on Tuesday after\u00a0floating\u00a0India's biggest bank IPO\u00a0earlier this month. Bandhan Bank shares jumped as\u00a0high as 33% to open at Rs 499 on Tuesday against the IPO price of Rs 375 on NSE. Amid the subdued market conditions, Bandhan Bank\u00a0IPO\u00a0was subscribed\u00a014.58 times with institutional investors bidding 38 times against the portion reserved for them. With an IPO (initial public offering) size of Rs 4,473 crore, Bandhan Bank IPO was touted as the biggest\u00a0initial\u00a0share sale by a bank ever in India. Bandhan Bank's market capitalisation has crossed the market capitalisation of all listed PSU (public sector undertaking) banks barring State Bank of India upon a stellar stock market debut. India's largest bank by assets State Bank of India\u00a0is the second-biggest bank in terms of market capitalisation, the only PSU bank ahead of Bandhan Bank in terms of the\u00a0market capitalisation. Bandhan Bank is now India's eighth-largest bank by market capitalisation striking a market capitalisation of Rs\u00a058,814.84 crore at the day's high price of Rs\u00a0494.8 on BSE on listing. Interestingly, Bandhan Bank has breached the market capitalisation of India's second-largest PSU bank Punjab National Bank and other prominent state-run bankers such as Canara Bank, Bank of Baroda, IDBI Bank and\u00a0Union Bank of India on the listing day itself. Bandhan Bank now features on the\u00a0eighth\u00a0spot in terms of market capitalisation behind seven private sector lenders (HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Axis Bank, IndusInd Bank, Yes Bank) and one state-owned bank State Bank of India. HDFC Bank and State Bank of India firmly commands the first and the second place in terms of market capitalisation in India and are far ahead than Bandhan Bank. HDFC Bank and State Bank of India held a market capitalisation Rs 4,91,289.51 crore and Rs 2,12,650.65 crore respectively while the second largest PSU lender Punjab National Bank has a market capitalisation of Rs\u00a023,236.98 crore. On the first day of\u00a0dealing in the shares of Bandhan Bank, a massive trading volume has been witnessed in the shares, as at 12:05 pm, more than 7.1 crore shares exchanged hands on both NSE and BSE with about\u00a06.1 crore shares on NSE alone. In India's biggest banking IPO, Bandhan Bank had appointed five merchant bankers, namely, Goldman Sachs (India) Securities Pvt Ltd, Kotak\u00a0Mahindra\u00a0Capital Company Ltd, Axis Capital Ltd, JM Financial Institutional Securities and JP Morgan India Private Ltd.